Synchrony Financial (NYSE:SYF) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its position in shares of Synchrony Financial (NYSE:SYF) by 31.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,875 shares of the financial services provider’s stock after purchasing an additional 92,196 shares during the period. Raymond James & Associates owned 0.10% of Synchrony Financial worth $19,297,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SYF. Swedbank AB lifted its holdings in shares of Synchrony Financial by 23.8% in the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after buying an additional 19,098 shares during the period. Cetera Investment Advisers acquired a new stake in Synchrony Financial in the 1st quarter valued at about $2,192,000. Nordea Investment Management AB boosted its position in shares of Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after purchasing an additional 674,366 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Synchrony Financial by 98.6% in the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after purchasing an additional 11,846 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Synchrony Financial by 52.6% in the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock worth $21,134,000 after purchasing an additional 168,920 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on SYF shares. BMO Capital Markets reduced their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research note on Thursday, October 17th. TD Cowen boosted their target price on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, Royal Bank of Canada lifted their price target on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.25.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $55.15 on Friday. The business has a fifty day simple moving average of $50.19 and a 200 day simple moving average of $47.00. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 1 year low of $27.65 and a 1 year high of $57.26. The firm has a market cap of $22.15 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 1.22 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company earned $1.48 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Synchrony Financial will post 6.19 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.